Report: Under Activist Pressure, ExxonMobil Mulling Changes to Its Board, Further Push Into Renewables
ExxonMobil (NYSE: XOM) is feeling the squeeze of not one but a pair of activist investors, and apparently planning to respond accordingly. An article published Wednesday in The Wall Street Journal, citing "people familiar with the matter," stated that the company is discussing changes to its board of directors and considering a ramp-up of investments in sustainable energy solutions.
The two activists pushing for changes in the company are D.E. Shaw Group and Engine No. 1. Also on Wednesday, the latter company formally nominated four candidates for ExxonMobil's board. In response, ExxonMobil issued a press release stating that its board affairs committee "will evaluate Engine No. 1's notice of nomination and nominees in line with the corporation's by-laws."
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Source Fool.com
